Earlier this week, South Carolina Director of Insurance, Scott Richardson, issued a cease-and-desist order reporting that Isle of Palms resident William M. Worthy, II, organized and spearheaded a nationwide, multimillion dollar health insurance fraud scheme.
The insurance fraud scheme, believed to have victimized at least 269 South Carolinians, involves the sale of limited benefit medical plans backed by nonexistent insurance to unsuspecting consumers through associations, and was orchestrated in large part from South Carolina.
Sixteen other states have taken regulatory action against those involved in the scheme.
As of March 26, 2010 the fraudulent insurance operation left approximately 19 million in outstanding claims.
South Carolina company, SouthEast Insurance Advisors, LLC., which the order says may be incorporated in Delaware, maintains a post office box on the Isle of Palms; the company is thought to be controlled by Worthy.
The other company believed to be involved in the scheme is Wilshire Holding, LLC, whose only address is a post office box at the address of a UPS store in suburban Columbia. Wilshire is not licensed by the state Insurance Department.
The order requires the respondents to stop selling or taking applications for insurance and to hold any insurance money collected.
We will keep you updated on the situation. If you purchased insurance from any of the companies named above, contact the Strom Law Firm, LLC today for a free consultation to discuss your legal rights.
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Sounds like a bogus article, with little factual info. Need to do some deeper research if you really want to make it a story and not some alleged b/s.
Thank you for reading our blog, Jim. To access a complete copy of the cease and desist order referenced in our article, visit http://doi.sc.gov/NR/rdonlyres/39E3607C-58E4-45C0-99F9-E30A5A1AD207/0/WorthyWilliamMII.pdf
Pete, thanks for your efforts! I might be mistaken, of course, but could it be that either Billy Worthy or Katie Cauthen are so tweaked that they decided to pretend they’re “Jim” and post some nastygram? Ha! Gotta love it!
PS Pete: you wrote “Lousi” DeLuca. Which he may be, but to cast such personal aspersions needlessly here detracts from your larger, and much appreciated message.